Bitcoin is finding it challenging to sustain its value above the $63,000 mark, leading to several uneventful days for altcoins. The cryptocurrency dropped to $61,142 today, hinting at potential increased volatility in the coming hours. What does the future hold for ADA Coin and CHZ Coin? Investors are keenly watching for the anticipated price levels in the upcoming days.
What Are the ADA Coin Predictions?
Despite being one of the largest altcoins by market capitalization, ADA Coin has been experiencing a consistent downward trend. Currently trading at $0.43, the altcoin has seen a 2.5% drop in just the past 24 hours. Over the last month, the number of daily active addresses for ADA Coin has decreased by 25%. This negative sentiment, which began around March 20, has led many investors to distance themselves from the market.
In the past month, most investors incurred losses, and the descending triangle formation in the chart indicates that breaking the support level might result in deeper drops. The RSI is below the neutral zone, confirming the weakness among buyers. If the negativity persists, sales could continue for ADA Coin down to $0.42, $0.40, and potentially $0.36.
Which Levels Are Key for CHZ Coin?
CHZ Coin has been reacting strongly to market recovery signals for a significant period. However, the bulls seem to be giving up now. The recent downward candle might stretch to the $0.106 support level, with another support at $0.098. CHZ Coin faces a parallel channel resistance at $0.085, and losing this level could indicate a departure from its mid-term upward trajectory.
Nevertheless, if CHZ Coin manages to bounce back to the $0.12 support, targets of $0.13 and $0.148 could be within reach. Currently, all eyes are on the forthcoming inflation data, which could significantly influence the market direction.
Concrete Market Insights
- ADA Coin’s consistent downward trend could continue, with potential targets at $0.42, $0.40, and $0.36.
- CHZ Coin’s immediate support levels are at $0.106 and $0.098, with a crucial resistance at $0.085.
- Market sentiment and upcoming inflation data could play a pivotal role in determining short-term price movements for both ADA and CHZ Coins.
In conclusion, the upcoming days are crucial for both ADA and CHZ Coins as they navigate potential support and resistance levels. Investors should closely monitor market signals and macroeconomic indicators to make informed decisions.